VFS vs VXZ: Correlation
Measured on weekly returns over the past three years, VinFast Auto Ltd. (VFS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VFS and VXZ?
Over the past 3 years, VFS and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.28 over 3. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -533.5 %².
Out of 12 assets tracked against VFS, VXZ lands near the bottom at #12. On 12-month performance VFS holds a 6.6-point edge, -9.5% against -16.1%. One caveat on sizing: VFS is 2.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
VFS vs VXZ: side by side
| VFS (VinFast Auto Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.5% | -16.1% |
| 5-year return | -67.8% | -53.1% |
| Volatility (ann.) | 75.2% | 25.6% |
| Beta vs S&P 500 | 1.62 | -1.31 |
| Max drawdown (3Y) | -97.1% | -36.4% |
| Market cap | $7.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VFS | VXZ |
|---|---|---|
| 2022 | +3.2% | +0.5% |
| 2023 | -16.3% | -44.0% |
| 2024 | -51.9% | -12.7% |
| 2025 | -17.1% | +5.7% |
| 2026 | -5.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VFS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, VFS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VFS and VXZ?
As of 2026-08-27, the correlation of weekly returns between VFS and VXZ is -0.28 over 3 years, -0.24 over 1 year and -0.12 over 5 years.
Is VXZ a good diversifier for VFS?
Yes. With a correlation of -0.28, VFS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vfs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vfs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VFS correlations · VXZ correlations
